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Question 1

1. Payment card service companies
charge merchants per-transaction fees and monthly processing fees

 True

 False

QUESTION 2

1. 
Electronic cash
can be traced back to the person who spent it.

 True

 False

QUESTION 3

please
put  a 1 ,2, or 3 to tell what order they
go in….

1. 
Steps followed
once a merchant receives a consumer’s payment card information:

Merchant authenticates payment card

Merchant checks with payment card
issuer

Settlement of balance with the
issuer

QUESTION 4

1. 
Which is not a
disadvantages of electronic cash

A.

No
audit trail

B.

Money
laundering and fraud

C.

Transactions
are more efficient

D.

Susceptible
to forgery

QUESTION 5

1. 
Electronic Cash
can not serve as a substitute for government-issued physical currency.

 True

 False

QUESTION 6

1. 
Electronic Wallets
hold credit card numbers, electronic cash, owner identification, and contact
information.

 True

 False

QUESTION 7

1. 
Match the term and
definition

Card issuer pays the merchants that accept the card
directly and does not use an intermediary

Involve three or more parties (e.g., systems using Visa
or MasterCard)

A.

Open loop systems

B.

Closed loop systems

QUESTION 8

1. 
One advantage of
electronic cash is that it costs less than processing credit card transactions.

 True

 False

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